New Delhi: After months of lying low, Alibaba founder Jack Ma was reportedly spotted playing golf in Hainan island in eastern China. According to a Bloomberg report, the co-founder of Ant Group Co. and Alibaba Group Holding Ltd. was spotted at the Sun Valley Golf Resort, a secluded 27-hole course on the Chinese island of Hainan, people familiar with the matter said.Also Read - After Jack Ma Reappears in Public, Alibaba Stock Goes Up by 8%
Ma has reappeared in public view after months amid increased scrutiny of his companies by Chinese regulators. It’s the first known Ma sighting since the former English teacher joined a live-streamed video chat with rural educators on Jan. 20. In the video, Ma can be seen addressing rural teachers as part of one his charity foundation’s initiatives. Also Read - 'Dekho Wo Aa Gaya': Memes Flood Twitter After Jack Ma Reappears in Public After Months
The reports of his going out of public view emerged soon after the billionaire made some comments that sounded critical of China’s financial regulator, triggering speculation of him going “missing.” Also Read - Will Meet Again After Pandemic is Over: Here is What Jack Ma Said in Reappearance Video | WATCH
Weeks after Ma made the critical comments, the flotation of his financial services firm Ant Group was cancelled by the Chinese authorities.
Ma, a former English teacher, became the international poster boy for Chinese e-commerce.
Earlier in December, as China’s top market watchdog began investigation into alleged anti-competition practices by the e-commerce giant Alibaba, the country also laid out “rectification plan” for Ma’s fintech venture Ant Group.
According to a report in TechCrunch, the People’s Bank of China, the country’s central bank, “summoned Ant Group for regulatory talks on December 26th, announcing a sweeping plan for the fintech firm to ‘rectify’ its regulatory violations”.
The banking authority laid out a five-point compliance agenda for Ant Group. The agenda is that Ant Group should return to its roots in payments and bring more transparency to transactions. Ant Group said it has established an internal “rectification workforce” to work on all the regulatory requirements.